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December 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Monterey Park, Business Loans > Gbc International Bank Monterey Park Business Loans > Durable Goods Loan | ||||
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California Bank SBA Loans
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Monterey Park, California Bank Lends Money to Durable Goods Company in La Puente, CaliforniaFind Monterey Park, California banks that specialize in business loans and know how to work with entrepreneurs. Gbc International Bank is one such bank, as evidenced by this SBA loan to one business. Finding a small business loan in La Puente, California starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Gbc International Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: DURABLE GOODS SBA Loan Lender GBC INTERNATIONAL BANK This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5099 - Durable Goods NAICS Code 421990 - Durable Goods Wholesalers Loan Approval Date 9/14/2000 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $40,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. This SBA loan was for $50,000. How would you spend $50,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Obtaining Funding - How to Decide How Much to Raise Who Lends Money to Small Businesses in Monterey Park, California
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